... And if you have investment properties that you are renting out to the right tenant at the right location, you might have assets worth more than a million as well.
And these are our investments, our personal investments which we own.
I recall talk during the Obama years, of how the looming Social Security deficits could be covered if we could “borrow” or “merge” the 401k and IRA investments with the Social Security system.
The next time Democrats control both Congress and the White House, I expect this talk to be revived.
I don't lecture my adult sons all that much but this is the one thing I constantly nagged them about. When I finally showed them my balance, their eyes popped out of their heads and now they understand.
...and keep it quiet.
Many “millionaires” live quiet middle class lifestyles. If no one knows you have money you will not be subject to hard luck stories.
I have helped many in my extended family when there was a need but there was always only one string attached. Don’t tell anyone that I helped.
Er, what about your non-retirement accounts? I believe there are a few quite well-off guys out there.
Here we go again...
Most Americans have less than $1,000 in savings
Published: Dec 23, 2015 10:01 a.m. ET
Nearly 7 in 10 Americans Have Less Than $1,000 in Savings, New Study Shows, Sep 25, 2016 at 2:04PM
More Than Half of Americans Have Less Than $1,000 in Savings in 2017, September 12, 2017
The Baby Boomers were really hurt in 2008. Far too many of them were heavily invested in stocks because they were either late in starting, or greedy.
I have an uncle, and also my brother’s in-laws who have their entire retirement in some pretty risky “day trader” situations. Almost completely wiped out first in 2000, then risky going into 2007 to make up for that. And then...poof. They are retired and broke.
Putting it all into the stock market is never a good idea.
An item costing .25 cents in 1958 will cost you $2.16 today.
A million today would be worth $116,000 in 1958.
To equal a million in 1958, you would need $8,700,000 today.
A Confederate dollar is worth more than a US dollar today.
150 k of 300 million as a whopping 0.05%
How many in the US have next to nothing saved.....
Start early.
Too many rich...gots’ta kill some off! < /sarc >
Commie democrats will be campaigning to nationalize those retirement accounts. It’s not fair that some people work hard and save their money, it needs to be redistributed to those that don’t.
https://edworkforce.house.gov/news/documentsingle.aspx?DocumentID=190130
WASHINGTON, D.C. | May 4, 2010
As part of continued efforts to safeguard Americans retirement savings, members of the House GOP Savings Recovery Solutions Group wrote to Labor Secretary Hilda Solis and Treasury Secretary Timothy Geithner to oppose proposals that would jeopardize workers hard-earned retirement savings by undermining or nationalizing individual 401(k) retirement savings plans.
The good news is obvious but the bad news is ominous
The bad news is there are also record numbers of Americans who have less than one months savings for retirement and are living pretty month to month and many often have negative net worths due to credit cards or other forms of debt.
A further signal that America is migrating to the Third World model of a small, well off upper class, a depleted middle class and a large underclass of traditional poor and the increasingly marginalized ex members of the middle class falling into the marginalized category as the government sanction destruction of the middle class continues to take it's toll
The good news is obvious but the bad news is ominous
The bad news is there are also record numbers of Americans who have less than one months savings for retirement and are living pretty month to month and many often have negative net worths due to credit cards or other forms of debt.
A further signal that America is migrating to the Third World model of a small, well off upper class, a depleted middle class and a large underclass of traditional poor and the increasingly marginalized ex members of the middle class falling into the marginalized category as the government sanction destruction of the middle class continues to take it's toll
Here is another point to make
- Don’t marry a crazy ass bitch who will take you retirement savings in total or she will file a fake “Restraining Order” against you if you don’t do what she says.
I had to basically start over saving for retirement in my mid 40’s.
Not this retired American.
I'd say the Feds have a claim on at least 20-25% of those "millions".
Every 10th adult in Singapore is a millionaire.
People with accounts at Fidelity are by defination savers. 2017 was a great year for stocks, so of course records were set in balances. How do the stats look for the rest of the population?
Think daughter’s one of those whose savings have grown large - gave her some money in a Fidelity mutual fund account when she graduated high school - got her interested and started early.....